Tag: Economic fundamentals

Wolf Richter: Bottom Suddenly Falls Out of Demand in China in Many Sectors

Lambert here: “The East Is Red Ink” is a song so familiar it’s almost impossible to hear, but if China’s industrial sector is deteriorating… By Wolf Richter, a San Francisco based executive, entrepreneur, start up specialist, and author, with extensive international work experience. Originally published at Wolf Street. “We saw big slumps in November and […]

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Brexit: Blame It on the Banking Crisis

Yves here. This post on Brexit reminds me of Tom Ferguson’s district-by-district analysis of the special Senate election in 2010 after Ted Kennedy died, where the win by Republican Scott Brown meant the Democrats lost their filibuster-proof majority in the Senate, a fact the Obama Administration used for meeting the Republicans more than half way. […]

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France’s Great Debate

Yves here. Wowsers, does Macron not know basic French history? The last time a ruler asked la toute France for its opinion about the problems of the day, the situation developed not necessarily to his advantage. From Wikipedia: The Cahiers de doléances (or simply Cahiers as they were often known) were the lists of grievances […]

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What Truck Drivers Say about “Driver Shortage” & Pay Increases

Yves here. Of course, one then wonders how many of the other worker shortage stories are exaggerated. And remember that profits have been at record levels as a percentage of GDP, so the idea that most companies can’t pay more is spurious. By Wolf Richter, a San Francisco based executive, entrepreneur, start up specialist, and […]

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Why the Green New Deal Is the Stuff of Fantasyland

Yves here. I’ve been disappointed by the cheerleading over the Green New Deal. Its claim is that if we mobilize enough resources, we can convert to a renewable-energy-based economy and arrest the rise in greenhouse gases soon enough to prevent the worst global warming outcomes. That might have worked if we had started 20 years […]

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$15 Minimum Wage: Job Killer or Path Out of Poverty?

This Real News Network segment sets forth the most common arguments against increasing the minimum wage to $15 an hour, or alternatively, a living wage level, and shows why they don’t hold up to scrutiny. A decent minimum wage is even more important when the supposedly robust US economy is increasingly creating McJobs. JAISAL NOOR: […]

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Thoughts on Warren and Sanders: How Much Change Is Needed in 2021?

Yves here. I know Warren is deemed to be progressive by American standards, but I recall clearly when I first say her speak at a Roosevelt Institute conference, Let Markets Be Markets, which was a title I found to be unhelpful, since it suggested that markets would exist in a state of nature and just […]

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How Shocking Was Shock Therapy?

By Barkley Rosser, Professor of Economics at James Madison University in Harrisonburg, Virginia. Originally published at EconoSpeak In 2007 Naomi Klein got quite a bit of attention and mostly favorable comment for her  book, Shock Doctrine.  It promulgated that global elites used periods of crisis around the world to force damaging neoliberal policies derived from […]

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Wolf Richter: Housing Bubble Trouble in Silicon Valley & San Francisco

By Wolf Richter, a San Francisco based executive, entrepreneur, start up specialist, and author, with extensive international work experience. Originally published at Wolf Street Housing inventory listed for sale in the two counties that make up Silicon Valley – San Mateo County and Santa Clara County – and in the county of San Francisco, surged […]

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Richard Murphy: Davos Wants a Better Measure of Failure

Yves here. Unfortunately, the Davos man is still very much with us. And now they want us to think that they care. Gah. By Richard Murphy, a chartered accountant and a political economist. He has been described by the Guardian newspaper as an “anti-poverty campaigner and tax expert”. He is Professor of Practice in International Political Economy […]

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Wolf Richter: Markets Are in a Tizzy. So What Will the Fed Do?

By Wolf Richter, a San Francisco based executive, entrepreneur, start up specialist, and author, with extensive international work experience. Originally published at Wolf Street Markets are in a tizzy. They’re finally reacting to the Fed’s rate-hike cycle, the slowest rate-hike cycle in history. It took three years to nudge up the effective federal funds rate […]

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Stumped by the Stock Market Slump? Start by Picturing a Used Car Dealership

Lambert here: Even I know what a lemon market is! By Steven Pressman, Professor of Economics, Colorado State University. Originally published at Alternet. Stocks have been slumping on a variety of concerns, from President Donald Trump’s ongoing trade war with China to worries about an economic slowdown and rising interest rates. Given the many factors […]

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Michael Hudson: The Vocabulary of Economic Deception

Originally published at Michael Hudson’s website This is Guns and Butter, October 8, 2018. The aim of classical economics was to tax unearned income, not wages and profits. The tax burden was to fall on the landlord class first and foremost, then on monopolists and bankers. The result was to be a circular flow in […]

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Why It’s So Hard for Most Countries to be Economically Independent from the West

By Justin Podur, a Toronto-based writer who teaches at York University in the Faculty of Environmental Studies. His site is podur.org. Follow him on Twitter: @justinpodur. Produced by by Globetrotter, a project of the Independent Media Institute. Why is it so difficult even for huge countries with large, diversified economies to maintain independence from the […]

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Do Climate Policies ‘Kill jobs’? An Economist on Why They Don’t Cause Massive Unemployment

Yves here. I don’t mean to sound churlish, but this article considers the sort of orthodox “green growth” policies that are inadequate do address the magnitude of changes we need to make merely to reduce how fast and catastrophic climate-change and population-induced damage to the biosphere occurs. From Why “Green Growth” Is an Illusion: Our […]

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Wolf Richter: “Severe Collapse” of Home Prices Might Trigger a “Financial-Institution Crisis” in Australia: OECD Frets about the Banks

Yves here. When I lived in Sydney, in a very nice but not the most tony part of town (Potts Point), housing prices already seemed nuts. I benefitted from the dollar being super strong, but in purchasing power party terms, $A1=$1. A $300 cart of groceries in both countries would be pretty similar. Rentals in […]

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France’s Macron Makes Concessions While ‘Yellow Vest’ Protests Continue

Yves here. This Real News Network segment gives some broader context for the gilets jaunes movement. Note that in an address on Monday, Macron apologized and gave some economic concessions, like raising the minimum wage by 100 euros a month and ending taxes on overtime work, but did not reinstate the wealth tax, which he […]

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The Inconvenient Truth about Climate Change and the Economy

By Gregor Semieniuk, Lecturer in Economics, SOAS, University of London and Associate Research Faculty, Science Policy Unit (SPRU), University of Sussex; Lance Taylor, Arnhold Professor of International Cooperation and Development, New School for Social Research; and Armon Rezai, Assistant Professor, Environmental Economics, Vienna University of Economics and Business. Originally published at the Institute for New […]

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